CombiMatrix Announces Contract With Blue Cross and Blue Shield Kansas City
Provides Access to Company's Suite of Molecular Tests to Additional 800,000
Members in Kansas City Area
IRVINE, Calif., Nov. 12, 2013 (GLOBE NEWSWIRE) -- CombiMatrix Corporation
(Nasdaq:CBMX), a molecular diagnostics company specializing in DNA-based
testing services for developmental disorders and cancer diagnostics, today
announced that it has entered into a contractual agreement with the provider
network of Blue Cross and Blue Shield of Kansas City (Blue KC) for coverage of
its diagnostic laboratory services.
The agreement with Blue KC, the largest not-for-profit health insurer in
Missouri, provides access to CombiMatrix's suite of molecular diagnostic
solutions and comprehensive clinical support—specializing in prenatal,
miscarriage and pediatric healthcare—to more than 800,000 members.
About Blue Cross and Blue Shield of Kansas City
Blue Cross and Blue Shield of Kansas City, the largest not-for-profit health
insurer in Missouri and the only not-for-profit commercial health insurer in
Kansas City, has been part of the Kansas City community since 1938. Ranked by
J.D. Power and Associates in 2013 as "Highest Member Satisfaction among
Commercial Health Plans in the Heartland Region, Two Years in a Row," Blue
Cross and Blue Shield of Kansas City provides health coverage services to more
than one million residents in the greater Kansas City area, including Johnson
and Wyandotte counties in Kansas and 30 counties in Northwest Missouri. Its
mission: to use its role as the area's leading health insurer to provide
affordable access to health care and to improve the health and wellness of its
members. Blue Cross and Blue Shield of Kansas City is an independent licensee
of the Blue Cross and Blue Shield Association. For more information on the
company, visit its website at BlueKC.com.
About CombiMatrix Corporation
CombiMatrix Corporation provides valuable molecular diagnostic solutions and
comprehensive clinical support for the highest quality of care – specializing
in miscarriage analysis, prenatal and pediatric healthcare. CombiMatrix offers
comprehensive testing services for the detection of genetic abnormalities at
the DNA level, beyond what can be identified through traditional
methodologies. The Company performs genetic testing utilizing advanced
technologies, including microarray, FISH, PCR and G-Band chromosome analyses.
Additional information about CombiMatrix is available at www.combimatrix.com
or by calling 1-800-710-0624.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995
This press release contains forward-looking statements within the meaning of
the "safe harbor" provisions of the Private Securities Litigation Reform Act
of 1995. These statements are based upon our current expectations, speak only
as of the date hereof and are subject to change.All statements, other than
statements of historical fact included in this press release, are
forward-looking statements.Forward-looking statements can often be identified
by words such as "anticipates," "expects," "intends," "plans," "goal,"
"predicts," "believes," "seeks," "estimates," "may," "will," "should,"
"would," "could," "potential," "continue," "ongoing," "objective," similar
expressions, and variations or negatives of these words and include, but are
not limited to, statements regarding the access to our services for Blue KC
members.These forward-looking statements are not guarantees of future results
and are subject to risks, uncertainties and assumptions that could cause our
actual results to differ materially and adversely from those expressed in any
forward-looking statement.The risks and uncertainties referred to above
include, but are not limited to:use of our services by Blue KC members;
market acceptance of CMA as a preferred method over karyotyping; the rate of
transition to CMA from karyotyping; our ability to successfully expand the
base of our customers and strategic partners, add to the menu of our
diagnostic tests in both of our primary markets, develop and introduce new
tests and related reports, optimize the reimbursements received for our
testing services, and increase operating margins by improving overall
productivity and expanding sales volumes; our ability to successfully
accelerate sales, allow access to samples earlier in the testing continuum,
steadily increase the size of our customer rosters in both developmental
medicine and oncology; our ability to attract and retain a qualified sales
force; rapid technological change in our markets; changes in demand for our
future products; legislative, regulatory and competitive developments; general
economic conditions; and various other factors.Further information on
potential factors that could affect our financial results is included in our
Annual Report on Form 10-K, Quarterly Reports of Form 10-Q, and in other
filings with the Securities and Exchange Commission.We undertake no
obligation to revise or update publicly any forward-looking statements for any
reason, except as required by law.
CONTACT: Company Contact:
Mark McDonough
President & CEO, CombiMatrix Corporation
Tel (949) 753-0624
Media Contact:
Len Hall
VP, Media Relations
Allen & Caron
Tel (949) 474-4300
len@allencaron.com
CombiMatrix Corporation